Afferro Mining Inc. Court Approval of Proposed Plan of Arrangement (1605Q)
October 10 2013 - 2:00AM
UK Regulatory
TIDMAFF TIDMIMIC
RNS Number : 1605Q
Afferro Mining Inc.
10 October 2013
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES.
10 October 2013
TSX-V: AFF
AIM: AFF
AFFERRO MINING INC.
Afferro Mining Inc. receives Court Approval in Connection with
Proposed Plan of Arrangement with International Mining &
Infrastructure Corporation Plc
Afferro Mining Inc. ("Afferro" or the "Company") announces that
on 9 October 2013 the British Columbia Supreme Court issued a final
order approving the previously announced proposed acquisition by
International Mining & Infrastructure Corporation Plc ("IMIC")
of 100% of the issued and outstanding share capital of Afferro
pursuant to a plan of arrangement (the "Arrangement").
Completion of the Arrangement remains conditional on, inter
alia, approval by IMIC shareholders and the satisfaction or waiver
of the conditions to closing, including receipt of all necessary
regulatory approvals, all of which are more particularly set forth
in the arrangement agreement made among IMIC, Afferro and a
wholly-owned subsidiary of IMIC dated 23 June 2013, as amended 18
July 2013 and 12 September 2013 (the "Arrangement Agreement").
For further information please see the Company's website at
www.afferro-mining.com or contact one of the following:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
Tel: +44 (0) 20 7010 7680
Canaccord Genuity Limited
Financial Adviser:
Melissa So / Joe Weaving
Tel: +44 (0) 20 7523 8000
Investec Bank Plc
Nominated Adviser and Joint Broker:
Chris Sim / Jeremy Ellis / George Price
Tel: +44 (0) 20 7597 5970
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000
Bell Pottinger Pelham
Daniel Thöle / James MacFarlane
Tel: +44 (0) 20 7861 3232
About Afferro Mining Inc.
Afferro is an established exploration and development company
listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio
includes the 100% owned Nkout, Ntem and Akonolinga iron ore
projects. It also holds a 70% interest in the Ngoa project, an
exploration target bordering Nkout. All projects are subject to
government rights. Nkout has an Indicated Mineral Resource Estimate
of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of
0.9Bt at 30.8% Fe. Ntem has an Indicated Mineral Resource Estimate
of 39.2Mt at 34.0% Fe and an Inferred Mineral Resource Estimate of
76.4Mt at 34.2% Fe.
Forward Looking Statements
This announcement includes certain forward-looking statements.
All statements, other than statements of historical fact, included
herein are forward-looking statements that involve various known
and unknown risks and uncertainties as well as other factors. Such
forward looking statements are subject to a number of risks and
uncertainties that may cause actual results or events to differ
materially from current expectations. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements.
Information about the risks and uncertainties of the Company's
business is provided in its disclosure materials, including its
Annual Information Form and the MD&A for the 12 months ended 31
December 2012, available under the Company's profile on SEDAR at
www.sedar.com. Although the Company has attempted to identify
important factors that could cause actions, events or results to
differ materially from those described in forward looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended.
This news releases contains forward-looking statements
concerning the expected completion date of the Arrangement. There
can be no assurance that the Arrangement will occur or that the
anticipated strategic benefits and operational, competitive and
cost synergies will be realized. The Arrangement remains
conditional on approval by IMIC shareholders and the satisfaction
or waiver of the conditions to closing, including receipt of all
necessary regulatory approvals, and there can be no assurance that
any such approvals will be obtained in a timely manner or at all
and/or any such conditions will be met.
The Arrangement could be modified, restructured or terminated.
Readers are cautioned that the foregoing list of factors is not
exhaustive. Other risks and uncertainties not presently known to
Afferro or that Afferro presently believes are not material could
also cause actual results or events to differ materially from those
expressed in the forward-looking statements contained herein.
There can be no assurance that forward looking information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information
contained herein, speaks only as of the date hereof (unless stated
otherwise) and, except as may be required by applicable law,
Afferro disclaims any obligation to update or modify such
forward-looking statements, either as a result of new information,
future events or for any other reason.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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